IAASB Proposes Modernization of Financial Estimate Audits in Support of Audit Quality
Apr 20, 2017
On April 20, 2017, the International Auditing and Assurance Standards Board (IAASB) issued a press release where they discuss the proposed significant changes in how auditors evaluate accounting estimates and related disclosures.
The changes will require auditors to sharpen their focus on risks of material misstatements arising from accounting estimates, and to address those risks with more granular audit requirements.
Review the press release on the IAASB's website.
